The Financial Accounting and Reporting (FAR) section of the Uniform CPA Examination (the Exam) assesses the knowledge and skills that a newly licensed CPA must demonstrate in the financial accounting and reporting frameworks used by business entities (public and nonpublic), not-for-profit entities and state and local government entities. The financial accounting and reporting frameworks that are eligible for assessment within the FAR section of the Exam include the standards and regulations issued by the:
- Financial Accounting Standards Board (FASB)
- U.S. Securities and Exchange Commission (U.S. SEC)
- American Institute of Certified Public Accountants (AICPA)
- Governmental Accounting Standards Board (GASB)
- International Accounting Standards Board (IASB)
The following table summarizes the content areas and the allocation of content tested in the FAR section of the Exam:
Each content area has a list of financial reporting topics which you must cover in order to be successful in the CPA Exam. Once you have registered in the course you will see a list of the topics. Otherwise you can access the topics under content on our website at: Exam Content.